The EUR/USD currency pair today declined to new lows despite the release of positive Eurozone data such as the German unemployment change data. The release of positive US macro data including the positive core personal consumption expenditure data also contributed to the pair’s decline. The currency pair lost over 80 points at the height of its decline, to mark the third consecutive session where the pair has posted losses. The EUR/USD’s decline was triggered … “EUR/USD Sinks to New Lows Despite Positive Eurozone Data”
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NZ Dollar Fails to Hold Ground After Business Confidence Worsens
The New Zealand dollar fell today, declining for the second consecutive day versus the US dollar and the Japanese yen. The currency was attempting to hold its ground at the beginning of the trading session but resumed the downward movement after the report showed a drop of the business confidence. The ANZ business confidence slipped from 19.4 in July to 18.3 in August. Yet the report was not particularly pessimistic, saying: Weâre seeing healthy readings for confidence, activity … “NZ Dollar Fails to Hold Ground After Business Confidence Worsens”
Chinese Yuan Slips, Heads for Best Month Since 2005
The Chinese yuan slipped against the US dollar today after mixed macroeconomic data. Yet the currency was still on track for the best month in more than a decade. The Peopleâs Bank of China set its official yuan midpoint to 6.6010 per dollar, 0.14% firmer than the previous day’s fixing of 6.6102. The currency has gained about 0.8% against the dollar so far this week and around 2% over the month, heading … “Chinese Yuan Slips, Heads for Best Month Since 2005”
GBP: Negative Brexit Sentiment Weights But Not Much Further
Brexit talks are into their third round. While the UK offered some concessions, the EU does not see enough progress. What does this mean for the pound? The team at BTMU analyzes: Here is their view, courtesy of eFXnews: BTMU FX Strategy Research argues that while the negative Brexit sentiment could put a downside pressure on GBP over … “GBP: Negative Brexit Sentiment Weights But Not Much Further”
US Dollar Climbs against Major Counterparts on Strong Economic Growth
The US dollar climbed against most of its major peers on Wednesday, as investors became more optimistic in the wake of strong economic data. Fresh reports showing firm economic growth in the second quarter and solid job gains this month sent an index that tracks the greenback to the highest level since Friday. The Bureau of Economic Analysis stated in a report that was released this afternoon that its second estimate for gross domestic … “US Dollar Climbs against Major Counterparts on Strong Economic Growth”
EUR/USD Posts Major Decline on Positive US GDP Data
The EUR/USD currency pair today recorded a major decline after the release of positive US GDP data early in the North American session. The decline, which started early in today’s session, had been halted briefly after the release of positive German CPI data in the mid-European session. The currency pair lost over 90 points at the height of its decline, extending a downward slide that begun yesterday. The EUR/USD pair came under intense … “EUR/USD Posts Major Decline on Positive US GDP Data”
NZD/USD Drops, Other NZD-Crosses Stable
The New Zealand dollar fell against its US counterpart today but held steady versus other majors. Comments for the central bank’s chief and domestic macroeconomic data were detrimental to the currency. During today’s speech, Graeme Wheeler, Governor of the Reserve Bank of New Zealand, complained about the strength of the New Zealand dollar, saying: The appreciating exchange rate made it more difficult for our exporters to compete on global markets (if … “NZD/USD Drops, Other NZD-Crosses Stable”
USD/CHF Rises Because of Economic Data, Improving Sentiment
The Swiss franc fell against the US dollar today due to positive macroeconomic data from the United States and the improving market sentiment. Switzerland’s own economic indicators were not helping the currency either. While markets were rattled at the beginning of the week by a missile launch from North Korea, fears subsided as the situation did not escalate, at least for now. As for Swiss macroeconomic data, the UBS consumption indicator rose from 1.30 to 1.38 … “USD/CHF Rises Because of Economic Data, Improving Sentiment”
What Is Draghi’s EUR Pain Threshold? – Credit Agricole
The ECB convenes in around one week. Will the ECB announce QE? A lot depends on the exchange rate. The team at Credit Agricole discusses the “pain threshold”. Here is their view, courtesy of eFXnews: Credit Agricole CIB FX Strategy Research notes that after months of waiting we have reached what could be described as … “What Is Draghi’s EUR Pain Threshold? – Credit Agricole”
USD/JPY: A Breakdown Below Weekly Ichimoku Cloud Key; Levels
USD/JPY is edging lower, dancing above the 108.10 level after North Korea fired a missile over Japan. The team at Bank of America Merrill Lynch examines the weekly Ichimoku cloud and lists the next levels to watch out for. Here is their view, courtesy of eFXnews: Bank of America Merrill Lynch FX Strategy Research notes … “USD/JPY: A Breakdown Below Weekly Ichimoku Cloud Key; Levels”